Annual Report 2019

207 Transport International Holdings Limited 2019 Annual Report Notes to the Financial Statements 21 Accounts receivable 2019 2018 $’ 000 $’ 000 Trade and other receivables 625,958 338,895 Interest receivable 41,056 32,588 Less: loss allowance (note 21(b)) (360) (360) 666,654 371,123 All of the accounts receivable are expected to be recovered within one year. (a) Ageing analysis Included in accounts receivable are trade receivables (net of loss allowance) with the following ageing analysis, based on the due date, as of the end of the reporting period: 2019 2018 $’ 000 $’ 000 Current 49,787 49,661 Less than 1 month past due 41,209 45,964 1 to 3 months past due 17,622 7,963 More than 3 months past due 10,042 6,610 118,660 110,198 According to the Group’s credit policy set out in note 31(a) to the financial statements, the credit period granted to customers is generally between 30 days and 90 days. Therefore, all the balances which are not past due as disclosed above are within three months from the invoice date. (b) Loss allowance of trade receivables Loss allowance in respect of trade receivables are recorded using an allowance account unless the Group is satisfied that recovery of the amount is remote, in which case the loss allowance is written off against trade receivables directly (see note 1(n)(i)). Movement in the loss allowance account in respect of trade receivables during the year is as follows: 2019 2018 $’ 000 $’ 000 Balance at 1 January 360 1,703 Amounts written off during the year – (1,343) Balance at 31 December 360 360